Here is a selection of the most relevant news of the Turkish real estate market.
The most interesting statistics:
- Foreigners have bought almost 30 million sq. m of land in Turkey;
- Three key metropolitan areas account for a third of home sales;
- The cost of housing in the three largest megacities has grown;
- The cost of construction has risen by 67% over the year.
The rental market is still plagued. So, civil servants are forced to become like students and rent an apartment by sharing the cost: their salaries were not enough to rent housing for themselves and their family.
Istanbul is concerned about security of residence: the authorities assure that "there will not be a single earthquake-prone residence in the metropolis". People want to hope so. Moreover, the quality of the building construction can be checked by "chipping" concrete batches.